Australian Capital Territory
Taxation Administration (Land Tax) Determination 2005 (No 1)
Disallowable instrument DI2005—60
made under the
Taxation Administration Act 1999, s 139 Determination of amounts payable under tax laws

EXPLANATORY STATEMENT

This instrument revokes Disallowable Instrument No 61 of 2004 notified on the ACT Legislation Register dated 4 May 2004.  

The purpose of this instrument is to determine the rates for the calculation of land tax for residential land and commercial land for section 9 (4) of the Land Tax Act 2004.

Under section 139 of the Taxation Administration Act 1999 the Minister has authority to determine, in writing by disallowable instrument, amounts payable under this Act. 

Calculation of land tax liability for rented residential land and residential land owned by a corporation or trustee:
•	An average unimproved land value of $75,000 or less will pay a land tax rate of 0.60%.
•	An average unimproved land value of between $75,001 and $150,000 will pay a land tax rate of $450 plus 0.89% on the average unimproved value of land above $75,000.
•	An average unimproved land value of between $150,001 and $275,000 will pay a land tax rate of $1,117.50 ($450 plus $667.50) plus 1.15% on the average unimproved value of land above $150,000.
•	An average unimproved land value of $275,001 or more will pay a land tax rate of $2,555 ($1,117.50 plus $1,437.50) plus 1.40% on the value of average unimproved land above $275,000.

Calculation of land tax liability for commercial land:
•	An average unimproved land value of $150,000 or less will pay a land tax rate of 0.89%. 
•	An average unimproved land value of between $150,001 and $275,000 will pay a land tax rate of $1,335 plus 1.25% on the average unimproved value of land above $150,000.
•	An average unimproved land value of $275,001 or more will pay a land tax rate of $2,897.50 ($1,335 plus $1,562.50) plus 1.59% on the average unimproved value of land above $275,000.

This determination takes effect from 1 July 2005.

Authorised by the Treasurer